Depression

​ ​PICTURES OF THE GREAT DEPRESSION OF 1929



What are characteristics of this phase of the business cycle?  The Characteristics of our business cycle is about the Great Depression. The Great Depression was first in progress on October 27, 1929. The great depression was caused by the chairman of the Federal Reserve. The Great Depression of 1929 lasted for 10 years. It was first initiated on Black Friday, of October 24, 1929, when 12.9 million shares of stock were sold. Then share prices dropped 15-20% causing the stock market to crash. Unemployment reached 25% during the great depression. In 1933 the elevation of the depression, had rose from 3% to 20% of the nation’s workforce. Minimum wages, for those who still were employed, jobs fell 42%. This was partially because of the deflation, which prices fell another 10% per year. The Depression caused many workers to lose their jobs and farmers to lose their farms. Most of the farmers or crop owners were forced to travel to California to find work. The majority of the people, who were going through the depression, ended up homeless. The great depression ended in 1932. When Franklin Roosevelt was elected president he promised to generate Federal Government programs to end the Great Depression. Within a couple of days Roosevelt new law was signed which provided the unemployed to have insurance. His new program included social security, FDINC and until today these programs are still helpful for low income people.   What happend in 1929?  The Stock Market Broke Down

 What factors caused this event and what actions were taken by the government to help the situation afterwards? TheStock market crashed while the War World 2 was going on. President Franklin D. Roosevelt had programs set up to help the umempolyed to get jobs. For example Agricultural Adjustment Act to protected farmers from price drops by providing crop subsidies to reduce production, educational programs to teach methods of preventing soil erosion.

Video Of The Great Depression []# []